The Royal Oak Property Company Ltd v Iktilat & Anor

The Royal Oak Property Company Ltd v Iktilat & Anor

Iktilat retained a beneficial interest in the properties through his equity of redemption under the arrangement with Al-Ansari, making him subject to charging orders and eligible for an order for sale.

Parties
Claimant: The Royal Oak Property Company Limited; First Defendant: Eyad Iktilat; Second Defendant: Maythem Al-Ansari
Jurisdiction
England and Wales
Judgment Date
23 July 2008
Procedural Posture
Part 8 Claim / Judgment After Inquiry as to Beneficial Interest
Outcome
Order for sale of both properties, stayed pending outcome of application to set aside judgment.
Legal Topics
Charging Orders, Beneficial Ownership, Equitable Mortgage, Order for Sale, Equity of Redemption
Property Law Civil Procedure Charging Orders Beneficial Ownership Equitable Mortgage Order for Sale Equity of Redemption

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Parties

The Royal Oak Property Company Limited

Claimant

Eyad Iktilat

First Defendant

Maythem Al-Ansari

Second Defendant

Procedural Posture

Part 8 Claim / Judgment After Inquiry as to Beneficial Interest

Legal Issues

  1. 1 Whether Eyad Iktilat has a beneficial interest in the properties subject to charging orders
  2. 2 Whether the Trust Deeds divested Iktilat of beneficial ownership
  3. 3 Whether an order for sale should be made given pending applications and restraint orders

Ratio Decidendi

Iktilat retained a beneficial interest in the properties through his equity of redemption under the arrangement with Al-Ansari, making him subject to charging orders and eligible for an order for sale.

Court Disposition

Order for sale of both properties, stayed pending outcome of application to set aside judgment.

Orders

  • Sale of All Souls Avenue to take place first; sale of Bevin Road only if proceeds are inadequate to satisfy judgment debt.
  • Order for sale stayed until final judgment on application to set aside, including any appeal, provided proceedings are prosecuted with due diligence.